Adelaide Bulky Goods

ADELAIDE’s IKEA store is for sale, with a price tag of some $50 million.

The store at 397 Sir Donald Bradman Drive at the Adelaide Airport is being offloaded by direct property fund LEX Retail Property Trust. Unit holders agreed to sell the asset at a meeting last October.

The asset includes 24,500 square metres of area over two levels. The complex was built in 2006 and also includes a cafeteria, office, warehouse, loading dock and car park.

Colliers International’s director of investment services Alistair Mackie is marketing the property, which is on a prime corner adjacent to Adelaide’s principal entry – a developing commercial, retail and industrial hub.